Revital Healthcare seeks Sh1.3bn IFC loan for Dongo Kundu expansion

Kenyan medical-device manufacturer Revital Healthcare (EPZ) Ltd is seeking up to $10 million (about Sh1.3 billion) from the International Finance Corporation (IFC) to finance a new medical kitting and healthcare logistics facility at Dongo Kundu in Mombasa.

PWBy: Ian
IN BRIEF:
  • Revital Healthcare is seeking a Sh1.3bn IFC loan for a new medical kitting and logistics facility in Dongo Kundu, Mombasa.
  • The Sh3 billion project will be funded through the IFC loan, internal cash and an equity injection from a joint-venture partner.
Kenyan medical-device manufacturer, Revital Healthcare (EPZ) Ltd, is seeking up to $10 million (about Sh1.3 billion) from the International Finance Corporation (IFC) to finance a new medical kitting and healthcare logistics facility at Dongo Kundu in Mombasa.
The proposed 10-year senior A loan is part of a project estimated to cost up to $23.4 million (about Sh3 billion), according to project information disclosed by the IFC on October 5.
Revital plans to finance the balance through its internal cash generation and an equity injection from a joint-venture partner.
Revital, which began operations in 2008, has grown into one of Africa's largest medical-device manufacturers, producing about 2.1 billion devices a year.
The company’s products include syringes, rapid diagnostic tests and other medical consumables, which it exports to more than 60 countries working with organizations including UNICEF, PATH, the Gates Foundation, USAID, Unitaid and Africa CDC.

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